Global Hemp-based Foods Market 2018-2022

High Demand for Organic Hemp-based Foods to Boost Growth

The global hemp-based foods market is expected to accelerate at a CAGR of over 24% during the forecast period, according to the latest market research report released by Technavio. The growing vegan population and increasing cases of celiac disease are key factors triggering the growth of the market.

 Global Hemp-based Foods Market 2018-2022 provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.

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Global Hemp-Based Food Market 2016 – 2024

IRELAND:  The global hemp-based food market is expected to grow with a CAGR of 7.5% over the forecast period of 2018-2024, according to a new report,  “Hemp-Based Food Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024”.

The report on global hemp-based food market provides qualitative and quantitative analysis for the period of 2016 to 2024. The study on hemp-based food market covers the analysis of the leading geographies such as North AmericaEuropeAsia-Pacific and RoW for the period of 2016 to 2024.

The report on hemp-based food market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global hemp-based food market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.

Porter’s five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global hemp-based food market over the period of 2016 to 2024.

Top Factors Driving the Global Hemp-Based Foods Market

GREAT BRITAIN: Technavio market research analysts forecast the global hemp-based foods market to grow at a CAGR of above 24% during the period 2018-2022, according to their latest report.

This market research report segments the global hemp-based foods market into the following product type (hemp seed-based foods, hemp protein-based foods, and hemp oil-based foods) and key regions (the Americas, APAC, and EMEA).

Technavio analysts highlight the growing vegan population and cases of celiac disease as a key factor contributing to the growth of the global hemp-based foods market:

Growing vegan population and cases of celiac disease

Vegan lifestyle strongly supports animal rights and environment-friendly lifestyle choices. A vegan diet consists of fruits, vegetables, whole grains, legumes, nuts, and seeds as substitutes for meat, dairy, and other traditional sources of protein. In countries such as the US, approximately 2.5% of the population follow vegan diet and lifestyle. This number is expected to grow during the forecast period which will foster the demand for hemp-based foods such as hemp seeds. Hemp seeds are good sources of protein. Several players in the market are adding vegan labels on the packaging of the hemp products to attract the vegan consumer base. It is projected that with the rise in the vegan population, the demand for hemp seeds and hemp proteins will also increase during the forecast period.

According to a senior analyst at Technavio for food, “It is estimated that more than 75% of Americans suffer from celiac disease and most of the cases are still undiagnosed. Presently, there is no medication available to cure this disease and the only way to avoid it is to switch to gluten-free diet. The increase in the number of digestive health problems, weight management issues, and demand for nutritious food is also encouraging the demand for gluten-free food items. Hemp is a natural, gluten-free substance, and this is driving the demand for hemp-based food ingredients such as hemp seed, oil, and proteins in the packaged food and beverage, at a high rate. It is expected that with the rise in the cases of celiac disease, the demand for hemp seeds and hemp oil will further increase.”

Air Force Warns Washington Airmen To Say No To Hemp Foods & Beer

WASHINGTON: In a post on the Joint Base Lewis-McChord website, 62nd Airlift Wing assistant staff judge advocate Capt. Christine Kugele warns troops to just say no to hemp:

Last year’s passing of Washington State Initiative 502 legalized marijuana under certain circumstances within the state. This has sparked innovation by some business owners around the state to find new applications for hemp. One example is using hemp seed to brew beer.

Airmen stationed here should be hesitant of these innovations regarding the ingestion of products that contain or are derived from hemp seeds or hemp oil.

In order to ensure military readiness, ingestion of any products containing or derived from hemp seed or hemp oil is prohibited. This prohibition includes ingesting products that claim to have removed all traces of THC from their product[Read more…]